OUR VIEW: Saving a buck or two makes sense for Massachusetts

The Standard-Times' report Sunday on the financial struggles within the gambling industry should give Massachusetts residents and lawmakers pause.

The Standard-Times' report Sunday on the financial struggles within the gambling industry should give Massachusetts residents and lawmakers pause.

Gov. Deval Patrick has stated that licensing three casinos in the state would mean $400 million a year in new revenues. It is clear that estimate is based on the rosiest of estimates, one that could not possibly take into account the loss of discretionary income by families everywhere as they struggle with mounting gasoline, fuel oil and food costs that leave them with less to spend on entertainment.

Standard-Times reporter Steve DeCosta wrote that resort casinos like Foxwoods are taking it worst as consumers cut back on travel, but even slots parlors like Twin River in Rhode Island are struggling — in part because they have to turn much of their revenue over to the state.

An independent report is due out next week that should test the economic assumptions behind Gov. Patrick's plan, and state lawmakers no doubt will attempt to determine whether casino gambling will deliver the revenues the governor is banking on.

If the assumptions behind the governor's proposal appear sound, the Legislature may well decide that it is time Massachusetts got its share of the nearly $1 billion in gambling dollars Bay Staters wager out of state. If not, gambling interests no doubt will continue to wait.

All of that will be decided in the next legislative session, so it will be several years before Massachusetts sees all that new revenue.

In the meantime, however, the state will continue to wrestle with financial challenges resulting from soaring state employee pensions, required health insurance, $22 billion in debt from the Big Dig, new transportation needs and the myriad demands of refurbishing the state's education system and investing hundreds of millions of dollars in the development of a life sciences industry.

Gov. Patrick would be wise to heed the frustration of voters who are worried about what the future holds for them. He should appoint a team of financial experts not tied to employee unions, gambling interests or construction industries to conduct a thorough review of the entire state budget and recommend ways to reduce spending on non-essential services.

That way, state lawmakers and elected officials won't have to incur wrath for daring to suggest significant cutbacks in spending. A budget can be balanced by cutting expenses as readily as adding revenues; and in difficult economic times like these, a conservative approach to spending makes good sense.